By Susanna Moon
Chicago, Oct. 17 – Osisko Gold Royalties Ltd. is now selling C$284 million of 4% 5.25-year convertible debentures, consisting of a C$184 million public offering and a C$100 million private placement, according to a company update on Tuesday.
The company said on Oct. 16 that it had priced C$260 million of the 4% 5.25-year convertibles, including a C$160 million public offering and a C$100 million private placement, with a 40% initial conversion premium.
PSP Investments has committed to purchase C$100 million of the debentures through the private offering on the same terms and conditions as the public offering.
The private offering may be increased by C$40 million.
The debentures will be convertible at the holder's option into Osisko common shares at a conversion price of C$22.89 per share.
They are non-callable until Dec. 31, 2020, when they may be redeemed in certain circumstances.
Proceeds will be used to fund the acquisition of precious metal royalties and streams, working capital and general corporate purposes.
Based in Montreal, Osisko Gold Royalties owns gold royalty assets.
| Issuer: | Osisko Gold Royalties Ltd.
|
| Issue: | Convertible debenture
|
| Amount: | C$284 million, upsized from C$260 million
|
| Maturity: | Dec. 31, 2022
|
| Coupon: | 4%
|
| Conversion premium: | 40%
|
| Conversion price: | C$22.89
|
| Conversion rate: | 43.6872
|
| Announcement date: | Oct. 16
|
| Upsized: | Oct. 17
|
| Settlement date: | Nov. 3
|
| Stock symbol: | Toronto and NYSE: OR
|
| Stock reference price: | C$16.35
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
